Special Board of Aldermen 09-28-2020 Page 18
Chairman Dowd
Follow up, Alderman Lu?
Alderwoman Lu
Well sure but there will be taxpayers that are paying those taxes right? And they are not necessarily going
to be different taxpayers than exist today. So | don’t understand how you say, how you gave that answer
that no current taxpayers will be paying towards the TIF.
Chairman Dowd
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many existing Nashua taxpayers will be paying for this project? Can anyone answer that question? How
many existing Nashua taxpayers will be paying for this bond?
Director Cummings
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very successful. So | think that’s where they tie together. And to make one successful to make the other
successful | think is what they are striving to achieve with this Legislation.
Mayor Donchess
Mr. Chair, could | add to that just a little bit?
Chairman Dowd
Mayor, go ahead.
Mayor Donchess
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Alderman Cleaver
Yes, thank you Mr. Chairman. | am trying to understand why we are combining financing of the Performing
Arts Center with the project associated with School Street. To me, they are very, very different projects,
different pros and cons, different concepts entirely and not related except for both are in Nashua. | don’t
understand why one piece of Legislation is dealing with the financing of both together and it makes no
sense.
Chairman Dowd
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Alderman Lopez
Are they utilizing the full amount of allocation that we have.
Director Cummings
100% and that’s the way the project works, that’s the way the program works. The investor buys 100% of
the allocation.
Chairman Dowd
All set Alderman Lopez?
Alderman Lopez
Yeah, | just wanted to make sure that those differences were clear.
Chairman Dowd
OK, alright. Thank you. Alderman Jette?
Alderman Jette
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direction and | think we are at the top of the hill now and | think we should really be pleased with how we
are doing.
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Alderman Tencza
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Alderwoman Lu
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Chairman Dowd
Ok thank you Mayor. Are there any members of the Board of Aldermen that have questions for any of the
presenters? | don’t see anyone.
Alderman Tencza
Alderwoman Lu, Mr. Chairman has her hand up.
Chairman Dowd
Alderman Lu? We can’t hear you, you must be on mute.
Alderwoman Lu
Can you hear me now?
Chairman Dowd
We can hear you now, yes.
Alderwoman Lu
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| had sent to a previous Board of Aldermen back in 2018. | gave a Memo on how do TIF’s work and I'll be
happy to send that around again. It gives people just basic information as to who, what, where, when, why
TIF’s are used in the mechanics of TIF’s are put into place.
